U.S. Airways and American evaluating a possible merger

Getty ImagesâWe are pleased to be working directly with American to study a potential merger and we consider this very good news,â US Airways Chief Executive Officer Doug Parker, shown above, told employees in a message. âIt does not mean we are merging -- it simply means we have agreed to work together to discuss and analyze a potential merger.â

US Airways Group and bankrupt American Airlines agreed to exchange confidential financial and operational data to evaluate a potential merger of the two carriers.

The airlines also will work “in close collaboration” with American’s unsecured creditors committee in the process, the carriers said in a statement today.

“We are pleased to be working directly with American to study a potential merger and we consider this very good news,” US Airways Chief Executive Officer Doug Parker told employees in a message. “It does not mean we are merging -- it simply means we have agreed to work together to discuss and analyze a potential merger.”

A combination of American and US Airways would catapult the combined company past United Continental Holdings as the world’s largest airline, based on passenger traffic. US Airways began pursuing a merger in January, and has secured the support of American’s unions for a combination.

Tom Horton, CEO of Fort Worth, Texas-based American, initially said he wanted to emerge from bankruptcy on a stand- alone basis and then consider potential combinations. The carrier later agreed with its creditors committee to examine alternatives to its own plan while under court protection.

American said it also had signed confidentiality agreements with others, without naming them.

“This will be an objective, thorough, fact-based process,” American told managers in a memo today. “As part of the process, other parties have also signed confidentiality agreements, which permit for the confidential exchange of information and discussion between American and those parties.”

US Airways climbed 4 percent to $10.83 in morning trading. The shares have more than doubled this year amid speculation of a merger with A